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Mayor Michael Bloomberg
Today, the High Line is a hive of activity, not only a valuable public open space for local residents but a tourist attraction in its own right, especially for an urban planner like me! The public park weaves itself around and underneath high rise buildings and above the busy car-dominated streets below. There is even an amphitheatre looking down at the traffic on 10th The landscaping is brilliantly
designed and combines vegetation with remnants of, and references to the old railway, to create a truly fascinating sense of place.
Whilst walking along the route I couldn’t help noticing the scale and intensity of development taking place alongside the route and the fact that the High Line is being used as an unique selling point for a number of schemes. It became clear that the public open space attracts high density, private development and that homes in close proximity to the asset are using the High Line to justify higher house prices.
For a project that cost approximately $260 million to build, it is estimated that tax revenues from the impact of the High Line due to new development and increased local property values was $900 million over a 20 year period[3]. An additional $2 billion in new economic activity[4] is attributed to the High Line. On top of this, millions of tourists (7.6 million in 2015[5]) visit the park every year and spend money in the local area. The public open space is clearly an economic success. Interestingly, the delivery of the project was financed by a combination of public funds, money raised by the ‘Friends of the High Line’ group (including monetary gifts from wealthy backers) as well as finance from a planning obligation-style deal that allowed developers at three sites to build additional floors in exchange for improvements[6] (to the value of $22 million) to the High Line. Whilst walking along the route I couldn’t help noticing the scale and intensity of development taking place alongside the route and the fact that the High Line is being used as an unique selling point for a number of schemes. It became clear that the public open space attracts high density, private development and that homes in close proximity to the asset are using the High Line to justify higher house prices.
[1] http://www.thehighline.org/about[2] http://global.ctbuh.org/resources/papers/download/2463-the-high-line-effect.pdf[3] New York’s High Line Park: An Example of Successful Economic Development by John Rainey http://greenplayllc.com/wp-content/uploads/2014/11/Highline.pdf[4] New York’s High Line Park: An Example of Successful Economic Development by John Rainey http://greenplayllc.com/wp-content/uploads/2014/11/Highline.pdf[5] http://www.thehighline.org/blog/2017/01/10/high-line-magazine-b1g-da-a-and-parks[6] http://www1.nyc.gov/office-of-the-mayor/news/108-06/mayor-bloomberg-friends-the-high-line-host-rail-lifting-ceremony-mark-start-of#/0
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